Replies to post #1265 on 5BARz International Inc. (fka BARZ)

[zerosum]

5barz Update: Spoke to 5Barz IR & I have the latest on the $3.5M bridge loan and the Axis Capital funding.

It looks good! It sounds like it is going to happen and they are close on closing. It sounds to me like they are almost as close on the Axis money as they are on the $3.5M bridge loan which imo is more important. 5Barz IR said they were allowed to sit in on a major conference call held by Vasan Paulraj, Managing Director and Business Head – Financial Sponsors Group at Axis Capital with 20 significant investors on the Axis capital funding for the Indian subsidiary. During which Vasan Paulraj at Axis said that there are many offers on the table to fund the Indian subsidiary and it's a matter of choosing which deal is right for 5barz. Many of the deals are even better than they hoped, I was told. Better terms, and in some cases more money than they are looking for but
I was not given specifics.

At this point they may not even need the $3.5M to bridge them to the Axis money, but hey imo the more money the better!

Time to get this money and fill some orders! There are huge orders waiting for 5barz, and if they can get the funds to fill those orders they will start making bank and they will be off to the races.

Gil Amelio and Finnis Connor still on board.

As a reminder to all Axis is quoted as saying this about the deal:

Vasan Paulraj, Managing Director and Business Head – Financial Sponsors Group at Axis Capital, which serves as 5BARZ India’s Investment Banker, commented on today’s news, “This is one of the most significant deals in the Indian telecom industry in the last several years and the way that 5BARz India’s last mile connectivity is monetized is extremely innovative. The creativity of 5BARz management in structuring this deal exemplifies the qualities we look for in the executive teams of those technology companies with which we partner, and was the key to successfully closing this transaction. We are in the process of raising the capital required for this rollout and fully support 5BARz India in this endeavor.”